In his debut commentary video, ADESA chief economist revisited one of the year’s most notable events — average wholesale vehicle prices softening below $10,000 last month. To be exact, wholesale used-vehicle prices for July came in at an average of $9,878, a 3-percent drop from June, but a 1.4-percent increase relative to July 2014, according to […] [Read More]

Four ADESA locations, in partnership with the Ford Global Action Team, announced they have raised over $283,000 for JDRF, a leading global organization focused on Type 1 diabetes research. Employees from ADESA locations in Indianapolis; Boston; Buffalo, N.Y.; and Phoenix along with their families, friends and customers participated in local JDRF Walk to Cure Diabetes events. ADESA […] [Read More]

The Greater Rockford Auto Auction has recently opened a 10,000-square-foot reconditioning operations center, otherwise known as “The ROC.” The new facilities includes three assembly line detail lanes, a full mechanical repair shop and a post-reconditioning photography area. The auction said The ROC enables it to boost efficiency and capacity in a big way. “We are […] [Read More]

The largest wholesale auto auction in the world will celebrate its 70th birthday on Wednesday. Manheim Pennsylvania opened its doors with single lane in 1945 — today, it has 33 lanes as well as digital access, selling over 450,000 vehicles per year. The auction’s “Manheim through the Years” event will be hosted on Wednesday and […] [Read More]

Truck depreciation is beginning to come in line with price drops for cars leading to a steady decline in auction prices. According to the latest Black Book Market Insights report, truck depreciation has “picked up steam” over the last few weeks. This movement was highlights so far by last week’s drop of 0.41 percent or […] [Read More]

The TPC Management Co. announced that it has promoted Jiles Wanna to the position of partner with the firm. Wanna has been with TPC for 11 years, serving as the director of business development as well as a member of TPC’s administrative staff for the Auction Academy and ServNet Auctions. “Jiles has been a long standing and […] [Read More]

Insurance Auto Auctions announced Thursday the expansion of its branch in Austin, Texas. The facility now encompasses 57 acres and offers what IAA says is an improved auction experience. Relocated in 2012, the venue began with 37 acres with two covered run-and-drive lanes and 250 feet of covered motorcycle and high-value vehicle storage. “Our expansion […] [Read More]

As used-vehicle prices fell by 2.2 percent last month from June rates, according to NADA Used Car Guide data, auction volume was on the way down as well. According to NADA UCG’s latest Guidelines report, auction volume of models up to 8 years old reached nearly 310,000 units in July. This marked a 6-percent decline from […] [Read More]

Depreciation slowed marginally in July, though downward pressure proved to be a bit worse than historically seen in mid-summer. That’s according to the latest Guidelines report from NADA Used Car Guide, which reported prices of used vehicles up to 8 years in age fell by 2.2 percent last month from June rates. This hit about […] [Read More]

For the first time this year, the average monthly wholesale used-vehicle price fell below $10,000, as July continued a string of heavy sequential price drops that has now reached three consecutive months. That’s according to the July edition of Kontos Kommentary, where ADESA chief economist Tom Kontos attributed the continued price drops to increasing supply. “Supply growth continues to […] [Read More]